2016 was a good year for Liechtenstein’s trading industry, according to the Office of Statistics. While commodities exports to Europe rose significantly, imports also grew but at a slower pace, while the overall trade balance remained positive. Investors interested in starting a business in the trading industry can rely on our company registration agents in Liechtenstein.
A recent report issued by the Office of Statistics in the Principality announces a significant increase in Liechtenstein’s export numbers in 2016 compared to the previous year. Europe was Liechtenstein’s main trading partner as neighboring countries have mainly imported commodities for here. The total value of the exports was worth 3.35 billion CHF in 2016, which can be translated into a 4.3% increase compared to their value in 2015.
The increase registered by Liechtenstein companies was mainly due higher sales across Europe, with exports growing by 5%. Austria was the country placing the largest number of orders. Exports to Asia also rose during 2016 by 7%.
Imports also rose last year, even if at a slower pace compared to the previous year, which has maintained Liechtenstein’s external trade balance positive. The total value of direct imports reported by companies in Liechtenstein totaled close to 2 billion euros, 3.4% higher than in 2015. Most of the imports came from China and other European countries.
According to the Office of Statistics, most of the commodities sectors registered higher export numbers. However, the highest numbers came from precision tools, watches and jewelry. Chemical and pharmaceutical products were also among the most exported goods by trading companies in Liechtenstein. However, metal exports registered the highest growth of 24% on an annual basis.
The commodities traded between Liechtenstein and Switzerland were not included in the report, as the two countries have a joint tariff union.
If you want to start a business in Liechtenstein and need assistance with the company formation procedure, do not hesitate to contact us. We can help with the preparation and filing of the documents required to open a company in Liechtenstein.